If there is substantive goodwill, does that mean it’s automatically a business?
Definition of business
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If there is substantive goodwill, does that mean it’s automatically a business?
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Substantial goodwill is an important indicator that it’s a business. However, it does not by itself determine whether you acquired a business. You still need to go through the analysis to determine if a substantive process is acquired. If you determine no substantive process is acquired, then you will need to determine the reason why there is so much goodwill.